Philadelphia — Philadelphia-based specialty discount retailer Five Below is debuting its brand in the Pacific Northwest with seven new stores set to open across Washington and one in Oregon on Nov. 7. The new store locations in the region will include Sunrise Village in Puyallup; Celebration Center in Federal Way; Everett Mall in Everett; Evergreen Crossing in Spokane Valley; Valley Mall in Union Gap; Vintner Square in Richland; Alderwood Parkway in Lynnwood; and Cascade Plaza in Beaverton, Oregon. Founded in 2002, Five Below operates more than 1,850 stores in 44 …
Washington
Seattle — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés. Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be …
Curbline Properties, Agree Realty Buy 125,204-Square-Foot Lacey Marketplace in Washington
Lacey, Wash. — Curbline Properties and Agree Realty have separately acquired portions of Lacey Marketplace, a 125,204-square-foot power center in Lacey. Curbline Properties purchased the 31,885-square-foot retail component located at 1350 Marvin Road NE for an undisclosed price. Current tenants of the fully occupied property include Panera Bread, Mattress Firm, BECU, Verizon Wireless, Cutter’s Point Coffee and Panda Express. Meanwhile, Agree Realty acquired the remaining 93,319-square-foot big box component located at 1200 Marvin Road NE for $21 million. The fully occupied retail component features tenants such as Boot Barn, La-Z-Boy, …
Gantry Secures $27.8 Million in Refinancing for Hazel Dell Marketplace in Vancouver, Washington
Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …
Seattle — Seattle-based fashion retailer Nordstrom Inc. plans to open five new Nordstrom Rack outlet stores next year. The stores will be located in Elmwood, Louisiana; Williamsburg, Virginia; Canton, Ohio; Deptford, New Jersey; and Mansfield, Massachusetts. Nordstrom Rack is the off-price retail division of Nordstrom Inc. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at traditional Nordstrom stores. The Elmwood location will open in spring 2026, while the remaining openings are scheduled to debut …
Auburn, Wash. — Northmarq has arranged the sale of Ellingson Crossing, a 15,270-square-foot retail center located within the Auburn/Kent Valley Industrial District, roughly 20 miles south of Seattle. Starbucks Coffee anchors the property, which was originally built in 2007. Tenants at the center include Wingstop, Domino’s Pizza, Taco Time, American Family Insurance and You First Dental Care. Sean Tufts, Kevin Adatto and Joe Dugoni of Northmarq’s Pacific Northwest Commercial Investment Sales team represented the local private seller in the transaction. New York City-based Curbline Properties was the buyer.
Seattle — JLL Capital Markets has facilitated the $35.4 million sale of Admiral Junction, a 67,992-square-foot shopping center located in West Seattle. A 60,876-square-foot Safeway anchors the center, which comprises 82 percent of the property. The remaining 7,116 square feet is dedicated to additional retail tenants including Menchie’s Frozen Yogurt and Verizon Wireless. Daniel Tyner, Geoff Tranchina, Gleb Lvovich and Zach Koucos of JLL’s Investment Sales and Advisory team represented the buyer, Silver Star Ventures, in the transaction.
Cle Elum, Wash. — Suncadia will open a new retail village and community hub in the 6,400-acre master-planned community of Suncadia in Cle Elum. Dubbed Suncadia Social, the $18 million project will span 11 acres. The center of Suncadia Social will house a 16,500-square-foot retail space, where Roselyn Grocery will anchor the development. Confirmed tenants at the property include Cutter’s Point Coffee, Out West Trading Co., Old Wood Signs, Hive HomeGoods and Alluvium Cellars, as well as G.H. Pasta & Pizza, a General Harvest Restaurant concept. Suncadia Social is scheduled …
Black Diamond, Wash. — Pepper Pike, Ohio-based Visconsi Cos. has negotiated a 58,000-square-foot lease with Safeway at Black Diamond Town Center, a mixed-use development located within the master-planned community of Ten Trails. Situated roughly 30 miles southeast of Seattle, the new Safeway will serve as the property’s anchor tenant and will also feature a full-service deli counter, bakery and pharmacy. Construction of the new grocery store is scheduled to begin later this summer, with a grand opening anticipated for the fourth quarter of 2026.
Tacoma, Wash. — JLL Capital Markets has arranged the $37 million sale of Westgate North, 74,789-square-foot shopping center located in Tacoma, roughly two miles from the University of Puget Sound campus. Safeway anchors the property, which was 97.9 percent leased at the time of sale. Additional tenants at the center include Anytime Fitness, Chase Bank, Taco Bell, Xfinity, Subway and Round Table Pizza. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL’s Investment Sales and Advisory team represented the seller. The buyer was Phillips Edison & Co.